Robinhood launches contracts to wager on presidential election

Robinhood connected Monday said traders tin statesman utilizing its level to stake connected nan U.S. statesmanlike predetermination that is conscionable complete a week away.

Investors utilizing Robinhood person nan opportunity to make money by speculating connected nan result of nan title betwixt Vice President Kamala Harris and erstwhile President Donald Trump.

The trading level said it would statesman offering nan contracts connected Monday to a constricted number of customers, who must beryllium U.S. citizens. 

Relatively caller and viewed arsenic precocious consequence compared pinch much mainstream financial instruments specified arsenic stocks aliases bonds, arena derivatives trading allows investors to bargain and waste contracts to estimate connected really definite events will play out. 

The U.S. Commodity Futures Trading Commission tried to legally artifact election-outcome trading, pinch an appeals tribunal upholding a national tribunal ruling successful September that allowed it. The CFTC is appealing that ruling, which progressive nan trading level Kalshi.

Interactive Brokers has besides launched aggregate governmental contracts, including those involving nan predetermination now 8 days away. 

Meanwhile, different betting markets, specified arsenic Polymarket, are predicting that Trump is favored to triumph nan Nov. 5 election. Polymarket past week said a sole French trader was down 4 accounts that spent millions to acquisition nan Trump contract. The world level wished it was not marketplace manipulation. 

"We judge arena contracts springiness group a instrumentality to prosecute successful real-time decision-making, unlocking a caller plus people that democratizes entree to events arsenic they unfold," said Robinhood successful a statement.

Shares of Robinhood roseate 3.1% successful nan aftermath of nan company's announcement. 

In:
• Kamala Harris
• Robinhood
• Donald Trump